Location: Holmes County, FL | Metro: Walton County, FL HUD Metro FMR Area
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $960 |
| 1 Bedroom | $1,120 |
| 2 Bedrooms | $1,230 |
| 3 Bedrooms | $1,710 |
| 4 Bedrooms | $2,060 |
| 5 Bedrooms | $2,390 |
| 6 Bedrooms | $2,677 |
| 7 Bedrooms | $2,891 |
| 8 Bedrooms | $3,036 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,710 | $275,007 | 0.62% | D |
U.S. Census Bureau data (2024)
ZIP code 32464 in Holmes County, FL, presents a unique snapshot when compared against the typical characteristics of other ZIP codes within its metro area. The Federal Market Rent (FMR) for ZIP 32464 stands at $1030 for fiscal year 2024, which is notably higher than the market rent figure of $721. This discrepancy suggests that ZIP 32464 might be slightly overvalued by the federal standards relative to the local rental market.
The median home value in ZIP 32464 is listed at $211,220, which is likely reflective of the overall housing market in Holmes County. However, it's important to note that this figure alone doesn't necessarily indicate whether ZIP 32464 is a value pocket, a mid-tier neighborhood, or a premium sub-market. To make a more informed assessment, we must consider the renter share, which is at 11.8%.
A high renter share combined with below-metro average home values can signal a prime location for Section 8 properties. In ZIP 32464, the renter share is above average, indicating a significant portion of residents rely on rental housing. This characteristic, coupled with the lower market rent of $721, could suggest that this area is indeed a sweet spot for Section 8 investments. Landlords and small-portfolio investors looking to capitalize on federal assistance programs should find ZIP 32464 an attractive option due to the potential alignment between federal subsidies and local rental costs.
To further contextualize ZIP 32464 within the Holmes County, FL, metro, it would be beneficial to compare these figures with those of other ZIP codes in the area. For instance, if other ZIP codes have significantly higher home values and similar or lower renter shares, then 32464 would stand out as a more affordable and potentially lucrative market for Section 8 properties. Conversely, if other ZIP codes also exhibit low home values and high renter shares, then ZIP 32464 might be considered part of a broader trend within the county.
In conclusion, based on the available data, ZIP 32464 appears to be a value pocket within the Holmes County, FL, metro, offering a balance of federal subsidies and local affordability that could benefit both tenants and landlords involved in Section 8 programs.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.